The 47-year-old actress/philanthropist will join Giuliana Rancic and Brad Goreski as a new co-host on E!'s talk show, while still serving as the show's executive producer, reported Variety.
She will make her debut as the series' co-host on August 31, when the show returns with coverage of fashion at MTV's Video Music Awards.
Each week, the regular co-hosts will be joined by two rotating celebrity guests.
"As an executive producer since the beginning, Melissa helped shape 'Fashion Police' into an iconic TV series that couples fashion with comedy," Jeff Olde, E! EVP programming and development, said in a statement.
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Melissa also released a statement to say, "I'm very excited to be given the opportunity to continue to work with my E! and 'Fashion Police' family."
"Fashion Police" was put on hiatus after Kathy Griffin, who was tapped to replace Joan, departed the show in March after only a few months.
Her departure came just a few weeks after Kelly Osbourne, who had been on the show for five years, quit the show following Giuliana's controversial comment about Zendaya Coleman's dreadlocks at this year's Oscars.